Bumble Roofing
Bumble Roofing offers roofing installation and repairs for residential and commercial customers. Known for comprehensive services, it requires an initial investment of $174,998 to $300,334. Operates in the roofing industry.
Bumble Roofing franchise FAQ
How much does it cost to open one — the total initial investment?
The total initial investment necessary to begin operation of a BUMBLE ROOFING® franchise is $174,998 to $300,334, as stated on [p.1]. This includes $64,500 to $70,500 that must be paid to the franchisor or affiliate.
What is the initial franchise fee?
The initial franchise fee is not explicitly stated in the excerpts, but it ranges from a low end to a high end, with the standard fee being due upon signing the Franchise Agreement and generally non-refundable. The exact amount is typically found on Attachment A [p.89].
What are the ongoing royalty and advertising fees?
The ongoing royalty and advertising fees range from 1.5% to 8% of a franchisee's monthly revenues [p.66]. These fees must be paid regardless of sales levels, and your inability to make these payments may result in termination of the franchise and loss of investment [p.4].
How long is the initial franchise agreement, and can I renew it?
The initial franchise agreement lasts for a period of seven years [p.85]. At the end of this term, you have the option to extend your rights to operate the Roofing Business for one additional term equal to the length of Franchisor's then-current initial term as described in its current BUMBLE ROOFING® franchise agreement, provided that Franchisor determines in its sole discretion that you meet certain requirements [p.85].
Can I sell or transfer my franchise, and what does that require?
Yes, you can sell or otherwise transfer your franchise, but this requires engaging with a broker or franchise sales organization if done through them. You will be responsible for any commission or fees charged by such organizations [p.24]. Additionally, the franchisor may have grounds to refuse the transfer for good cause [p.6(g)]. Transfer to an immediate family member (spouse or child) would waive the transfer fee under certain conditions [p.24].
On what grounds can the franchisor terminate the agreement?
The franchisor can terminate the agreement on any ground available by law [p.168]. Additionally, the franchisor may terminate without reasonable cause as per Virginia Retail Franchising Act requirements [p.172], and also if there is a default by the franchisee that has not been cured within 30 days after written notice [p.5]. However, in Minnesota, specific conditions apply for termination, such as voluntary abandonment or failure to cure a material default [p.165].
What financial requirements — net worth and liquid capital — do I need to qualify?
This isn't specified in the excerpts.
Do I get an exclusive or protected territory?
No, you do not receive an exclusive territory. The franchise granted under the agreement includes no area protection other than as provided in Sections 2 and 4 of the Franchise Agreement [p.180]. This means that the franchisor and its affiliates retain the right to issue franchises outside your territory and can operate competing businesses both within and outside your territory [p.180].
What training and ongoing support does the franchisor provide?
The franchisor provides training conducted by experienced personnel, including David Bitan with 17 years in the field and Jake Mathre from Empower Brands. Training is based on the Operations Manual, which new franchisees receive and are instructed to review thoroughly. This training can be supplemented or delegated as necessary [p.34].
How many franchised outlets are there, and how many have closed or been terminated?
This isn't specified in the excerpts.
Does the franchisor share any financial performance or earnings information?
Yes, the franchisor can provide financial performance information if there is a reasonable basis for it [p.46]. This information may include data from existing outlets, but the franchisor does not make representations about future financial performance and prohibits its employees from making such claims [p.51]. The provided financial performance representation focuses on roofing services offered by both company-owned and franchise outlets during a specific reporting period [p.47, p.49].
What am I restricted to selling, and where must I buy supplies?
You are restricted to selling only those Services and Products authorized by the franchisor and which meet their standards and specifications [p.43]. You may sell these to any customer in your Territory but cannot use other brands of products that have not been approved in writing [p.43]. Regarding supplies, you may have to buy or lease items from the franchisor or a limited group of suppliers designated by them, which might be more expensive than alternatives [p.3].